RMB projects 4.2% growth for Botswana

Steering the ship: Finance Minister Peggy Serame expects the economy to grow by 4.3% this year PIC: THALEFANG CHARLES
Steering the ship: Finance Minister Peggy Serame expects the economy to grow by 4.3% this year PIC: THALEFANG CHARLES

Analysts at Rand Merchant Botswana (RMB), an arm of FirstRand Bank, expect Botswana’s economy to expand by 4.2 percent in 2022, helped by a resurgence in the key diamond mining sector.

The forecast is marginally below government and the International Monetary Fund’s projections that the local economy will grow by 4.3 percent growth this year. The local economy expanded by 11.4% last year, rebounding from a COVID-19 induced contraction in 2020.

RMB’s forecasts are contained in its mid-year Africa Economic Outlook. RMB is the corporate and investment banking arm of FirstRand Bank Limited – of which RMB and First National Bank Botswana (FNBB) are both divisions.

Editor's Comment
A step in the right direction

That is indeed a welcome development, especially looking at the fact that the manual way of doing things is slowly disappearing and competency in the use of computers and other digital gadgets has become a must.The simple way of looking at it is just an example that almost all companies have gone completely digital and school leavers will be better placed after leaving school, because they will already be familiar with the use of computers.The...

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